Explain the utility of banking services to business.
3 years ago
Banking
Some utilities of banking services to business are as follows:
(a) Money deposited in a bank remains safe. Precious articles too can be kept in the safe custody of banks in the lockers
(b) Banks provide credit facilities to their customers.
(c) Banks provide convenient and safe means of transferring money from one place to another and facilitate business dealings/transactions.
(d) Banks meet the financial needs of small scale business units which are located in economically backward areas
Susmita Sah
Jan 16, 2022